FDR declared a "bank holiday" during the Great Depression to stop bank runs.

Can Obama say on October 17 - "Due to the lack of a sufficiently high debt ceiling, I'm ordering Sec. Lew to close the US Treasury until further notice. All legal obligations will be paid when the situation permits."

That way: 1) We don't cross the limit. 2) We don't default. 3) Obama doesn't use any gimmicks like the $1T platinum coin.

Would this work? If not, why not?

Of course there would be huge downsides (the electronic trade of Treasuries would likely freakout), but would it be illegal in some way?

Cheers,
Scott.
(Who thinks nothing is going to change until after October 17.)